Sunday, October 16, 2011

iPhone 4S big hit in China's grey market

Despite not officially being for sale in China, Apple's iPhone 4S was on sale on Beijing and Hong Kong's  grey market at the weekend, attracting hundreds of fans paying up to six times official prices to get their hands on the latest model.

The smartphone, released in seven countries on Friday, not including China but dealers had imported them, mainly from Australia, Canada and Japan, for resale to local customers. According to experts iPhone 4S it will come out in China towards the end of the year.

The phones are retailing for between HK$10,000 and HK$12,000 ($1,300-$1,500) on the grey market. Depending on their memory capacity they are priced between $199 and $399 in the United States with a two-year contract.

"Today we have got two from Canada, they're 11,000 yuan ($1,720) each. If you're interested, you need to come straight away," a saleswoman said at a mobile phone shop at Hailong market.

"I have sold about 100 iPhone 4S since yesterday," dealer Ma Hui of Chu Lok Telecom in the bustling shopping district of Mongkok said Sunday.

"Several customers bought 10 of them to resell to others," he told AFP, as he brought the new phones into his shop before opening for business.

But Ma said the demand for the 4S was less than the frenzy that accompanied the launch of the iPhone 4.

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